Market forecast 7 February 2014

Market forecast & February 2014

Nifty bank nifty and stocks premarket outlook

NIFTY Feb. expiry future last closed at 6054 with 5 points gain. In Intraday NIFTY, future made low at 5975 while high was at 6068. Total almost 90 points intraday range and closed with gain.

On futures side, -2.08% open interest shed suggest strong short covering. On option side, 6100 call option heavy writing seen today.

As expected given reversal again above 5960, support as well as stop loss. For tomorrow expect nifty future outlook is bullish for target 6120.

 

BANKNIFTY Feb. expiry future last closed at 10,225 with loss of 41 points. In intraday BANK NIFTY, future hit high at 10,358 while low was at 10,113. Total 250 points intraday range and closed with loss.

On futures side, +0.81% open interest build up shows some short addition. On option side, 10,000 put option writing seen so it will act as support for now.

As I already told in last Bank nifty prediction, given reversal above 10,000 supports and closed near previous close. For tomorrow bank nifty future outlooks is bullish and expect target near 10,500.

 

Jaiprakash Associates Limited stock closed at 37.75 with loss. In intraday stock hit high at 39.55 while low was near 36.55. For tomorrow, traders can buy this stock around 37-37.5, zone with Stop loss of 36 and for target 41 on upsides.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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